Getting the Most from an Inventory Tracking Database System

For companies who track and manage inventory, keeping up with real-time data on what they have, how much they have, where it is located can mean the success or failure of a business. Utilizing the right inventory tracking database system is so important and shouldn’t be left out of the vital tools a company employs for daily operations.

Many companies don’t think they need an inventory tracking database system to keep up with their active inventory. These are also the companies that are relying on error-prone electronic spreadsheets or even worse guessing about the inventory they have. With today’s competitive market, companies don’t have time for errors or guesswork. They are at risk to fail as a result of these practices, and the livelihood of their employees depend on their workplace to survive.

At the bare minimum, an inventory tracking database system closes the communication loop among staff, promoting better organization and increased efficiency. Companies who employ this software quickly find that they are saving time, frustration and money when they don’t have to hunt down the whereabouts of their inventory or expensive equipment. Those reasons alone should be enough to make you really consider the benefit of an inventory tracking database system.

Many of the features that come standard with inventory tracking database systems have simplified the entire process of tracking inventory and assets and increase accountability and responsibility for all who use them. Features such as:

Reporting. Create custom, automated reports to print or email to stakeholders, address any outside questions or concerns, and provide vital information for compliance, straight line depreciation and asset appreciation calculation.

Build custom databases. As clients build their custom databases over time, staff members begin to develop a more comprehensive understanding of the organization’s inventory and assets, which can eliminate simple inquiries and requests and replace them with faster, more informed responses.

Mobile interface. For employees on the go, this feature makes it easy for you and your employees to access your inventory database anytime, from anywhere. All of your data is stored in the cloud, so you can access information from work or at home. Simply pull out your phone, find the inventory/asset entry, and you’ll be able to see all the data on that particular item.

Detailed data information. Each entry has room to enter information like make, model, location, usage times, maintenance records, number ordered/sold/reordered, and more. Attach photos or special notes. Track sales number and trends during special sales periods. All of this data will help you make important decisions about purchases and enable you to see performance over time.

Asset Panda is the perfect solution for companies looking to implement an inventory tracking database solution. Our flexible software changes depending on what you need, so you won’t have to spend a large amount of time learning a complicated program. Our cloud-based database is perfect to use on mobile devices you and your workers already have on hand. If you need to quickly check your inventory, you can use Asset Panda’s app to log into the database and pull up important asset records. As your inventory changes, you won’t have to spend a lot of time updating the system. Your employees can update your database, reducing errors across the database.

Asset Panda’s software makes it easy for your company to keep accurate records of all of your products, assets, equipment, and tools that help keep your business running. A solid inventory tracking database system will help save your employees time on looking for the items they need to do fulfill your customers’ needs and they can spend time on more productive efforts. When you get more work out of your employees, you’re getting more for your money.

Take a look at how Asset Panda helped a coffee company in Barbados improve their productivity through their work order module. This can be a major assistance as company track inventory as well. Make sure to sign up for a free 14-day trial to see for yourself how Asset Panda can help you with your inventory needs.